Location: Philadelphia-Camden-Wilmington, PA | Metro: Philadelphia-Camden-Wilmington, PA-NJ-DE-MD MSA
Based on 1% Rule: A+ (≥1.5%) | A (≥1.2%) | B (≥1.0%) | C (≥0.8%) | D (≥0.6%) | F (<0.6%)
| Unit Size | Monthly FMR |
|---|---|
| Studio | $1,220 |
| 1 Bedroom | $1,320 |
| 2 Bedrooms | $1,580 |
| 3 Bedrooms | $1,880 |
| 4 Bedrooms | $2,080 |
| 5 Bedrooms | $2,413 |
| 6 Bedrooms | $2,703 |
| 7 Bedrooms | $2,919 |
| 8 Bedrooms | $3,065 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-07-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 2BR | $1,580 | $260,852 | 0.61% | D |
| 3BR | $1,880 | $338,202 | 0.56% | F |
| 4BR | $2,080 | $391,370 | 0.53% | F |
| 5BR | $2,413 | $407,230 | 0.59% | F |
U.S. Census Bureau data (2024)
The ZIP code 08015, Browns Mills, NJ, has a population of 19,567, with 17.9% being renters. This indicates that the area is primarily homeowner-dominated rather than renter-heavy. The median household income stands at $80,889, which provides a baseline for understanding the economic context of potential tenants.
In Browns Mills, the typical market rent is $1,195. To put this into perspective, this amount represents approximately 15% of the median household income. This figure suggests that while rents are not excessively high relative to income, they still consume a significant portion of monthly earnings, especially for those relying on Section 8 vouchers.
The Fair Market Rent (FMR) for ZIP 08015, set at $1,810 for fiscal year 2024, is notably higher than the current market rent. This discrepancy highlights the financial gap between the actual rental costs and the benchmark used for voucher allocations. As such, landlords should be aware that the demand for Section 8 vouchers will likely exceed supply, given the higher FMR compared to the actual rent prices.
A landlord in Browns Mills can expect a tenant pool that includes individuals and families who are likely to have some difficulty affording housing without assistance. However, due to the relatively low percentage of renters and the higher FMR, landlords may find that tenants using Section 8 vouchers are less common. Instead, the typical tenant might be someone who earns below the median income but above the poverty line, seeking affordable housing options.
To summarize, ZIP 08015 is not a prime location for deep voucher demand. Landlords should prepare for a tenant base that requires careful screening to ensure financial stability, with an emphasis on those capable of paying rent close to the $1,195 market rate. The expectation is for a mix of tenants, some of whom may need assistance through vouchers, though the overall demand for such support is expected to be lower than in areas with higher percentages of renters.
Data Sources: FMR data from HUD (2027). Median home prices from Zillow (2026-07-31). Demographics from U.S. Census (2024).
About FMR: Fair Market Rent (FMR) is used to determine payment standards for the Section 8 Housing Choice Voucher program, initial renewal rents for some expiring project-based Section 8 contracts, and rent ceilings for HOME Investment Partnerships.